BULTUM ACADEMY

EIN: 850798553 501(c)(3) Education

COLUMBIA HEIGHTS, MN

Total Revenue
$3,895,452
Total Expenses
$4,035,844
Total Assets
$2,110,211
Net Assets
$494,271
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
MN
Principal Officer
ARIF BAKAR
Phone
7634503522
Tax Period
2024-07-01 to 2025-06-30

BULTUM ACADEMY, founded in 2020, is a community nonprofit in the Education sector that reported $3.9M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion.

Mission

BULTUM ACADEMY IS A DYNAMIC AND INNOVATIVE CHARTER SCHOOL DEDICATED TO FOSTERING A LOVE FOR LEARNING AND EMPOWERING STUDENTS TO ACHIEVE EDUCATIONAL EXCELLENCE. AS A CHARTER SCHOOL, BULTUM ACADEMY PROVIDES A UNIQUE LEARNING ENVIRONMENT THAT PRIORITIZES INCLUSIVITY, STUDENT-CENTERED LEARNING, AND HIGH ACADEMIC STANDARDS. OUR MISSION IS TO EQUIP STUDENTS WITH THE SKILLS AND KNOWLEDGE THEY NEED TO THRIVE IN A RAPIDLY CHANGING WORLD BY OFFERING PERSONALIZED AND ENGAGING EDUCATIONAL EXPERIENCES. WE ENVISION A COMMUNITY WHERE EVERY STUDENT, REGARDLESS OF BACKGROUND, IS EMPOWERED TO REACH THEIR FULL POTENTIAL, BECOME LIFELONG LEARNERS, AND CONTRIBUTE MEANINGFULLY TO SOCIETY. AT BULTUM ACADEMY, WE ARE COMMITTED TO CREATING A NURTURING ENVIRONMENT THAT INSPIRES CURIOSITY, CREATIVITY, AND CRITICAL THINKING, PREPARING OUR STUDENTS FOR SUCCESS IN COLLEGE, CAREERS, AND BEYOND.

Program Service Accomplishments

Program 1
Expenses: $3,423,361 Revenue: $258,765

BULTUM ACADEMY CHARTER SCHOOL IS COMMITTED TO PROVIDING A HIGH-QUALITY, CULTURALLY RESPONSIVE EDUCATION THAT EMPOWERS STUDENTS TO ACHIEVE ACADEMIC EXCELLENCE WHILE EMBRACING THEIR CULTURAL HERITAGE...

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BULTUM ACADEMY CHARTER SCHOOL IS COMMITTED TO PROVIDING A HIGH-QUALITY, CULTURALLY RESPONSIVE EDUCATION THAT EMPOWERS STUDENTS TO ACHIEVE ACADEMIC EXCELLENCE WHILE EMBRACING THEIR CULTURAL HERITAGE AND IDENTITY. DURING THE 2024/2025 SCHOOL YEAR, BULTUM ACADEMY SERVED A DIVERSE STUDENT POPULATION WITH A FOCUS ON PERSONALIZED LEARNING, CHARACTER DEVELOPMENT, AND COMMUNITY ENGAGEMENT.ONE OF THE SCHOOL'S CORE ACCOMPLISHMENTS IS ITS DEDICATION TO CREATING A SAFE, SUPPORTIVE, AND INCLUSIVE LEARNING ENVIRONMENT WHERE STUDENTS RECEIVE INDIVIDUALIZED ACADEMIC AND BEHAVIORAL SUPPORT. THROUGH INITIATIVES LIKE OUR ROBUST BEHAVIOR INTERVENTION PROGRAMS ALIGNED WITH THE PUPIL FAIR DISMISSAL ACT, WE ENSURE THAT STUDENTS ARE HELD TO HIGH STANDARDS WHILE BEING GIVEN THE TOOLS AND OPPORTUNITIES TO GROW SOCIALLY AND EMOTIONALLY.BULTUM ACADEMY HAS ALSO EXCELLED IN FOSTERING ACADEMIC ACHIEVEMENT BY IMPLEMENTING RESEARCH-BASED INSTRUCTIONAL STRATEGIES AND CULTURALLY RELEVANT CURRICULA TAILORED TO THE NEEDS OF OUR STUDENTS. OUR TEACHERS AND STAFF PROVIDE DIFFERENTIATED INSTRUCTION, SMALL GROUP INTERVENTIONS, AND INDIVIDUALIZED EDUCATION PLANS TO SUPPORT EVERY STUDENT'S ACADEMIC JOURNEY.IN ADDITION TO ACADEMICS, THE SCHOOL EMPHASIZES CHARACTER EDUCATION AND LEADERSHIP DEVELOPMENT, EMPOWERING STUDENTS TO BECOME RESPONSIBLE, COMPASSIONATE, AND COMMUNITY-MINDED CITIZENS. THROUGH PARTNERSHIPS WITH FAMILIES AND COMMUNITY MEMBERS, BULTUM ACADEMY NURTURES STRONG HOME-SCHOOL CONNECTIONS, RECOGNIZING THE ESSENTIAL ROLE FAMILIES PLAY IN STUDENT SUCCESS. AS WE CONTINUE TO GROW AND EVOLVE, BULTUM ACADEMY REMAINS DEDICATED TO ITS MISSION OF CULTIVATING WELL-ROUNDED, HIGH-ACHIEVING STUDENTS PREPARED TO THRIVE IN A GLOBAL SOCIETY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,572,639
Program Service Revenue $258,765
Investment Income $0
Other Revenue $64,048
TOTAL REVENUE $3,895,452

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,950,089
Fundraising Expenses $0
Program Expenses $3,423,361
Other Expenses $2,085,755
TOTAL EXPENSES $4,035,844

Year-over-Year Comparison

2024 2023 Change
Revenue $3,895,452 $3,287,443 +0.2%
Expenses $4,035,844 $3,098,105 +0.3%
Net Income $-140,392 $189,338 -1.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
3
Employees
68
Volunteers
7

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$176,143
Total Directors
9
$110,565
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SALAD ABAGIRA BOARD CHAIR 1.00
Officer Director
$0 $0 $0
REEM ZEMAN VICE CHAIR 1.00
Officer Director
$0 $0 $0
SARAH TOBE SECRETARY 40.00
Officer Director
$47,935 $6,199 $54,134
YADATA BORANA DIRECTOR 1.00
Director
$0 $0 $0
ROBERT STUBBS DIRECTOR 40.00
Director
$43,173 $13,258 $56,431
ZACHARY ETTER SECRETARY (UNTIL 11/24) 1.00
Officer Director
$0 $0 $0
ESMAEL ABAGERO BOARD CHAIR (UNTIL 11/24) 1.00
Officer Director
$0 $0 $0
ABDALA YUSUF TREASURER (UNTIL 11/24) 1.00
Officer Director
$0 $0 $0
WORKU DENTA DIRECTOR (UNTIL 11/24) 1.00
Director
$0 $0 $0
ARIF BAKAR SCHOOL DIRECTOR 40.00
Officer
$98,392 $23,617 $122,009
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $3,895,452 $4,035,844 $2,110,211 $-140,392
2024 $3,287,443 $3,098,105 $2,011,626 $189,338
2023 $2,498,642 $2,342,785 $1,217,979 $155,857
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